Sensex Posts Biggest Monthly Gain Of 2017
Welspun Enterprises Reports Profit Of Rs 17 Crore In Q2
Shares of the Mumbai-based infrastructure company ended 1.27 percent lower at Rs 163.5 after it reported July-September quarter earnings.
- Net profit at Rs 17.21 crore against loss of Rs 6.75 crore
- Revenue from operations up 342 percent to Rs 158.6 crore (YoY)
- Total costs at Rs 162.16 crore versus 53.79 crore
Speaking to BloombergQuint, Sandeep Garg, managing director at Welspun Enterprises said the company's balance sheet remains strong with zero debt on a standalone basis. He added that the company expects revenue in the range of Rs 12,000 crore this financial year and profits to grow at 30 percent on annually.
Dabur Earnings Disappoint In Q2
Consumer goods maker Dabur India Ltd. posted lower-than-anticipated quarterly earnings weighed down by currency and geopolitical disturbances.
- Net profit rose 1.2 percent year-on-year to Rs 362 crore versus estimate of Rs 370 crore
- Revenue fell 1.2 percent to Rs 1,958.9 crore versus estimate of Rs 2,032 crore
- Ebitda up 2.9 percent at Rs 419.9 crore
- Ebitda margin 21.4 percent versus 20.6 percent (YoY)
Speaking to BloombergQuint Lalit Malik, chief financial officer at the Ghaziabad-based company said profit growth of 1.3 percent came because of GST implementation and steep currency devaluation in Egypt, Nigeria and Turkey. Healthcare segment will well next quarter and we hope maintain volume growth of 5-10 percent, added Malik.
Indian equity benchmarks edged lower led by decline in heavyweights like Infosys, State Bank of India, Larsen & Toubro and Tata Motors.
The S&P BSE Sensex declined 0.16 percent to 33,213 and the NSE Nifty 50 Index slipped 0.27 percent to 10,335. However, this month Sensex rose 6.17 percent, posting biggest monthly gain of 2017.
Ten out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index's 1.76 percent drop. On the other hand, the S&P BSE Telecom Index was the top sectoral gainer, up 1.46 percent.
Fab Four Stocks Of The Day
- The S&P BSE Sensex was headed for the best monthly gain of 2017, up over 6 percent in October
- Bharti Airtel, State Bank of India, Reliance Industries, Adani Ports and ONGC were among the top five Sensex stocks, up 12-28 percent so far, this month
- Broader markets also posted best monthly gains in October with the S&P BSE MidCap and S&P BSE SmallCap indices rising 7.5 and 9.2 percent respectively